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RBC grabs second Merrill Lynch team in a week

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RBC has hired its second team from Merrill Lynch in less than a week, recruiting a duo overseeing $230 million in client assets.

The Nearing Wealth Management Group is comprised of Gordon Nearing, senior vice president, who joins with 39 years of industry experience; Pamela Dallas, associate vice president, who joins with three years of experience; Nicole Molieneux, senior registered client associate; and Kelly Tullidge, client associate. They are based in Palm Beach Gardens, Florida.

Nearing spent nine years with Merrill Lynch, according to FINRA BrokerCheck records. Before Merrill he spent almost a decade with Wachovia. Dallas began her advisor career with Merrill, according to BrokerCheck.

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The team made the move because “the main thing is that I want to be associated with a firm or organization that I truly feel does have best interest of clients at heart,” Nearing says. “Also one that will recognize that it must support financial advisors worth more than just words.”

“I feel that at RBC that will be an environment more concerned about helping clients than corporate profits,” Nearing says.

A Merrill Lynch spokeswoman declined to comment on the move.

The group was also drawn to RBC’s technology, with Nearing citing its “leading” financial planning software programs.

This team isn’t RBC’s only pull from Merrill Lynch’s talent pool. Last week, RBC swiped a $550 million team from Bank of America’s wealth management unit.

RBC is on a recruiting binge this year, hiring a plethora of new advisors. Among RBC’s biggest pickups was a Wells Fargo group that oversaw $1.4 billion in client assets.

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